Antonio Civitella, the founder and CEO of Transfinder, said in a previous interview that the new building can accommodate up to 125 employees. On Friday, he said the company will have 75 employees by the time it moves in at the end of May.

Civitella is also moving ahead with plans to renovate another building along State Street to become a business accelerator that targets software companies.

Civitella is buying the 251-263 State St. building, which also houses First Niagara Bank. The bank will remain on the first floor, with the upper floors renovated to handle Transfinder's future growth as well as the software accelerator, Gillen said.

Civitella said he's creating the New York Biz Lab, an accelerator for technology companies and startups. He also hopes to attract retailers to first-floor space not currently occupied, and to have First Niagara in its space for years to come.